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Director Of Development, Technical Operations And Innovation MPC Properties

Creating The Perfect Synergy

Demand for commercial real estate has remained stable and is expected to preserve that stability, which also applies to real estate commercial terms, which...

Portonovi

Endless Summer Adventures And Relaxation On The Adriatic Coast

Portonovi Resort, a luxurious and unique destination that lies at the heart of the Bay of Kotor, announces the more than exciting summer season...

Pavel Maco, President Of The Executive Board Of Mobi Banka

Banking Identity As A Universal Identity

Mobi Banka recently reached two milestones: a hundred thousand completely online loans; and a hundred million transactions. The bank ended last year with 650,000...

Vladimir Vasić, Secretary General Of The Association Of Serbian Banks

Serbia Needs A Stable Banking Sector

Crisis situations show best that Serbia definitely needs its Association of Banks, an organisation that performs important work for banks and the entire financial...

Predrag Mihajlović, Executive Board President And CEO At OTP Banka Srbija

High-end, Trustworthy And Reliable

We create value through our distinctive approach, which places the client at the centre of everything we do at OTP banka. Whether providing capital...

Bojan Stanić, Sector For Strategic Analysis and Internationalisation At The Chamber Of Commerce & Industry Of Serbia (CCIS)

War Is Always A Bad Friend

The continuation of the conflict in Ukraine could, over the long run, imperil the recovery of the western Balkans. That’s why political de-escalation in Europe provides the basis to restore rates of expansive growth and sustainable development to the serbian economy

Despite the fact that the current crisis is a consequence of tragic events in Ukraine, new economic circumstances that bring both risks and opportunities are being created in Europe.

Specifically, the current situation threatens to develop into a global conflict of interest, primarily in an economic sense. The International Monetary Fund noted in its latest report that we are seeing a kind of economic deglobalisation, or the leading economies turning towards cooperation within regional economic groups, which creates a kind of trade-off between more reliable supplies and economic efficiency.

We already saw overburdening and stagnation emerging during the pandemic, leading to supply chain breakdown, and the current political crisis shows that such breakdowns don’t necessarily have to be caused by natural factors. Hence the re-emergence of the topic of shortening the supply chains of large European companies by moving operations closer to their home countries, while, on the other hand, many countries are now considering reducing their economic dependence on faraway and potentially rival markets.

Serbia and the other countries of the Western Balkan region have for years underutilised their economic potential and shown themselves to be extremely sensitive to external risks. Although recent advances have been recorded in terms of regional cooperation towards the establishing of a common regional market, joining the EU’s common market – and doing so in the most favourable and inclusive possible way – remains the main economic goal of the governments of the region.

The political crisis that’s hit eastern Europe has launched a wave of refugees and migrants who are seeking more promising places to live and work in many european countries including Serbia, which would be a positive development for our labour market

In that sense, there are indications of increased interest among foreign direct investors in transferring part of their operations from faraway markets to the region. The standout activities of interest in this regard include agribusiness, the auto industry and the IT sector, all of which can provide a stronger impetus to the growth and development of Serbia and the region.

On the other hand, the political crisis that’s hit Eastern Europe has launched a wave of refugees and migrants who are seeking more promising places to live and work in many European countries, and are often opting for Serbia as a country with a similar culture, a good climate and more affordable living conditions. These are relatively young, highly-educated people who are mostly employed in the fields of IT, consulting services and trade. Considering their ability to quickly integrate into the local environment, the Serbian economy could benefit a lot in terms of bolstering labour market supply, but also improving its general demographic structure, given that European countries are generally maintaining their population levels through a positive migrant balance.

However, we should conclude by stressing that the continuation of conflict in Ukraine may, over the long run, imperil the recovery of the Western Balkans, and particularly other developing countries worldwide. That’s why political de-escalation in Europe provides the basis to restore the Serbian economy’s rates of expansive growth and sustainable development.

Comment by Zoran Panović

Era Of (Post)historical Misgivings

The anxious apprehension of HBO show Game Of Thrones, or George R. R. Martin’s original source book, is easy to recognise in today’s era...

Duško Radosavljević, Political Scientist

Regret Comes To He Who Takes And He Who Doesn’t

If opposition leaders don’t agree to help Vučić navigate his way across to the other side of the political shore, they will betray their...

Dragan Đukanović, Professor At The University Of Belgrade Faculty Of Political Sciences

New Serbian Government Must Be Clearly Pro-european

Both neighbouring states and leading western countries like the U.S. or Germany will continue to insist that the new government of Serbia clearly determines...

Srećko Djukić, Diplomat, Former Ambassador, Member Of The EPUS Forum For International Relations

The International Community Will Provide The Impetus In Either/or Decisions

The country’ pro-russian and anti-european political scene can be reconfigured, but not in one fell swoop and not solely by the ruling party or...

EU Preparing Investment Plan For Western Balkans Worth 30 Billion Euros

The leaders of the European Union and the Western Balkans held a four-hour discussion in Brussels on the challenges...

Alessandra Moretti Is The New Chair Of EP Delegation To Serbia

The European Parliament (EP) has elected Alessandra Moretti, a member of the Socialists and Democrats from Italy, as chair...

Russia’s Ruble At Its Strongest Level In 7 Years

Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and...

EU Council Pushes For Further Actions To Protect Journalists

Against the backdrop of increasing threats to journalists and thus impediments to freedom of expression and freedom to inform,...

Polish Ruling Party Chief Leaves Government Post

Jarosław Kaczyński, leader of Poland’s ruling nationalist Law and Justice party (PiS), on Tuesday resigned from his post as deputy prime...

EU Preparing Investment Plan For Western Balkans Worth 30 Billion Euros

The leaders of the European Union and the Western Balkans held a four-hour discussion in Brussels on the challenges...

Alessandra Moretti Is The New Chair Of EP Delegation To Serbia

The European Parliament (EP) has elected Alessandra Moretti, a member of the Socialists and Democrats from Italy, as chair...

Russia’s Ruble At Its Strongest Level In 7 Years

Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and...

EU Council Pushes For Further Actions To Protect Journalists

Against the backdrop of increasing threats to journalists and thus impediments to freedom of expression and freedom to inform,...

Polish Ruling Party Chief Leaves Government Post

Jarosław Kaczyński, leader of Poland’s ruling nationalist Law and Justice party (PiS), on Tuesday resigned from his post as deputy prime...

EU Preparing Investment Plan For Western Balkans Worth 30 Billion Euros

The leaders of the European Union and the Western Balkans held a four-hour discussion in Brussels on the challenges...

Alessandra Moretti Is The New Chair Of EP Delegation To Serbia

The European Parliament (EP) has elected Alessandra Moretti, a member of the Socialists and Democrats from Italy, as chair...

Russia’s Ruble At Its Strongest Level In 7 Years

Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and...

EU Council Pushes For Further Actions To Protect Journalists

Against the backdrop of increasing threats to journalists and thus impediments to freedom of expression and freedom to inform,...

Polish Ruling Party Chief Leaves Government Post

Jarosław Kaczyński, leader of Poland’s ruling nationalist Law and Justice party (PiS), on Tuesday resigned from his post as deputy prime...
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